Buying Your Rooms Through Super

Yves SchoofPrivate Practice

Buying your rooms through super has become a very popular strategy among Medical Professionals, and it is not hard to see why. Under the right circumstances it can be an excellent wealth creation strategy. However, it can also be a rather complex arrangement and it is not necessarily right for every Medical Professional. As part of our collaborative series “Avoiding … Read More

Financial Advice For Doctors – Our Process

Yves SchoofFinance

financial advice for doctors

We have built a considerable expertise in providing financial advice for doctors. We work with doctors in their late 20’s and 70’s and any age in between. This gives us a particular insight in the different financial issues affecting you throughout your career. We work with Surgeons, Specialists and GP’s as well as other healthcare professionals such as dentists and … Read More

5 Key Areas Where Doctors Need To Spend Money To Make Money

Yves SchoofPrivate Practice

There is a saying that goes ‘you need to spend money to make money. There is definitely some truth in this, also for doctors. In this article we will look at 5 key areas where you as a doctor can make beneficial investments. 1) Education and training It goes without saying that as doctors specialise in a particular area, your … Read More

Why Doctors Need a Team Of Advisers

Yves SchoofFinance

Many Doctors don’t work with advisers and still try to manage their own financial and tax affairs, or rely on the same (limited) service provider they used when they worked as an intern. However, with the financial complexities many doctors are facing nowadays, rather than making an ad hoc decision and hoping it’s in your best interests, making sure you … Read More

Doctors And Super: Should You Top Up Before 30 June?

Yves SchoofFinance

By now you may be familiar with the reduced super contribution limits that will kick in on 1 July 2017. To refresh your memory, the concessional contribution limit will reduce to $25,000 p.a. irrespective of your age and the non-concessional limit will reduce to $100,000 p.a. or $300,000 if you bring forward 3 years (down from $180,000 p.a. or $540,000 … Read More

Dear Doctor, What Are Your Good Intentions?

Yves SchoofFinance

Most people, I am sure this also includes many doctors, set good intentions around this time of year, but very few people actually follow through and make positive, lasting changes. One of the most common good intentions people set is around money, typically they want to start saving more. I am sure many doctors find themselves in the same position, … Read More

Doctors and financial stress

Yves SchoofFinance

Do doctors experience financial stress as well, despite their higher than average incomes? Yes, in fact I believe that many doctors do experience financial stress, whether it is as a result of a lack of time or knowledge to manage your financial affairs, or whether it is because your lifestyle is putting pressure on your cash flow. Doctors are like … Read More

Doctors and property scams- how to avoid them

Yves SchoofInvestments

It is no secret that many Doctors have a love affair with property. There are some very simple reasons for this: property is perceived to be safer than shares, doctors can easily borrow money for property, and property investment offers many tax deductions. Yet, there is also such a thing as a bad property investment, and I have seen many … Read More

The Weekend News For Doctors

Yves SchoofFinance

There was some interesting news for doctors in this weekend’s Australian Financial Review. Please find below a brief summary of how various news items affect doctors. High-end property harder to finance Banks are starting to enforce stricter lending terms and conditions for multimillion dollar properties. These types of property deals will be more closely scrutinised, which may force buyers to … Read More

Doctors And The 2016 Budget: What You Need To Know

Yves SchoofFinance

Whilst the media are labelling the Federal Budget as a win for high income earners, I believe the exact opposite is true, with superannuation the hardest hit in terms of strategy options. In this article, I will highlight the main issues for Doctors and the 2016 Budget. Superannuation down and out? There is no doubt that superannuation is becoming less … Read More